Articles & Commentary Learn more about the indexes from Russell experts Russell's heritage is in money manager research. Today, more than 400 employees are dedicated to researching investment products and money managers. Our worldwide presence and leadership in indexes place us in a unique position of insight into the world of indexes. Monthly Commentary Stocks Remain Cold in March Stocks in the Russell 3000® Index remained in the winter doldrums in March, marking the fifth consecutive month that the U.S. broad-market index has reflected a negative monthly return. U.S. Stocks Continue to Sour in February as Global Stocks Rebound A tough final trading day in February dragged the broad-market Russell 3000® Index (-0.4%) into negative territory for the month. The index now reflects a year-to-date loss of 6.5% through the end of February. Stocks slump in January Every segment of the U.S. equity market slumped in January as the broad-market Russell 3000® Index reflected a 6.1% decline for the month. This monthly loss marked the worst since September of 2002. Feature Articles ETFs Make a Splash James Guilfoil, CFP® The explosive growth of exchange-traded funds may tempt investors to brave this new category, but buyers should educate themselves before jumping into the ETF pool. Capitalization Banding: Russell Index Reconstitution 2007 Rolf Agather and Sarah McCarthy Russell's new capitalization banding methodology significantly reduces turnover in its indexes without sacrificing their ability to represent the market. Market Index Change: Why It Creates Better Measures Kelly Haughton, Strategic Director of the Russell Indexes Market indexes should anticipate and recognize the changes happening over time, which means as countries and companies become available for global investment they should be reflected in market indexes. Large Cap and Small Cap in the Global Market Russell redefines global indexes by using a global-relative definition to capitalization size. Our analysis shows that the global definition of company size most effectively distinguishes large and small cap companies. Russell Research: Price Pressure at Russell Index Reconstitution (PDF) David R. Carino and Mahesh Pritamani Russell Research analysts examine the effect of the temporary price-pressure effect of reconstitution. Results show that the effect of reconstitution on stock prices is diminishing. Measuring U.S. Equity Manager Performance: Benchmarks and Weighting Kelly Haughton, Strategic Director of the Russell Indexes Determining the market's performance requires an accurate, objective assessment of the market's make-up. That's why savvy investors select a reliable index to serve as a benchmark for performance analysis. White Papers and Research It's All a Matter of Perspective The issue of perspective is brought to the forefront when discussing the differences between large cap and small cap stocks. By using a consistent methodology to determine capitalization sectors, we are able to provide a globally consistent definition of large cap and small cap stocks across all countries. The Changing Global Capital Markets (PDF) Kelly Haughton, Noriyuki Oharazawa, Pradeep Velvadapu, and Xin Yan, Russell Investments Emerging market countries are growing strongly and increasing their share of global equity markets. The development of these countries' capital markets could influence retirement security. Baby boomers are reaching age 65 at the rate of 10,000 per day. As boomers fund their retirement, they may find themselves dependent on growth in these countries for financial security. The Russell Microcap Index (PDF) Steve Swartley, Russell Research Analyst This Index will provide an objective benchmark for the smallest 2,000 companies in the U.S. equity market. Assessing the bias against the largest cap stocks by institutional managers (PDF) Dennis Trittin, Russell Portfolio Manager Examining investment in top 50 stocks.			Printer friendly version of this page

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Indexes are unmanaged and cannot by invested in directly. Returns represent past performance, are not a guarantee of future performance, and are not indicative of any specific investment.